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Saturday, 16 June 2012

Asian stocks rose, with the regional benchmark index recording its biggest weekly gain in almost five months, on optimism that central banks from China to the U.S. will take new steps to fuel growth tempered concerns Europe’s debt crisis will worsen.

NYMEX crude for July delivery ended up a second day and settled at $84.03 a barrel, rising 12 cents, or 0.14 percent. For the week, it edged down 7 cents, following a 1 percent gain in the week to June 8.

Brent crude for August delivery settled at $97.61 a barrel, rising 44 cents, or 0.45 percent. For the week, front-month Brent fell $1.86, or 1.87 percent, after gaining 1 percent in the week to June 8.

U.S. stocks rose, giving the Standard & Poor’s 500 Index its first back-to-back weekly gain since April, amid speculation central banks will take steps to stimulate growth and contain a prolonged debt crisis in Europe.

The Dow Jones industrial average was up 94.90 points, or 0.75 percent, at 12,746.81. The Standard & Poor’s 500 Index was up 10.80 points, or 0.81 percent, at 1,339.90. The Nasdaq Composite Index was up 30.49 points, or 1.07 percent, at 2,866.82.

Friday, 15 June 2012

Asian shares edged up on Friday, and the euro held most of the previous session’s gains, as nervous investors took comfort from plans for coordinated action by major central banks to stabilise markets if Sunday’s election in Greece results in turmoil.

Oil futures rose on Thursday after the Organization of the Petroleum Exporting Countries agreed to keep its collective oil output ceiling unchanged for the second half of the year at 30 million barrels per day.

Copper prices inched up on Friday and were on track to post their first weekly rise in seven weeks, helped by reports that major central banks are poised to inject liquidity should the results of weekend elections in Greece unleash havoc on financial markets.